As spending picks back up, merchants will likely debut promotions to make up for lost sales and boost customer loyalty to drive consistent revenue in uncertain times.
Consumers appear to have an appetite for sales holidays as spending recovers, so merchants may create new events in the coming months to rack up sales. Alibaba and JD.com both posted huge sales numbers for the 618 sales event in China, which runs from June 1-18, and merchants can try to drive sales themselves by offering their own discounts and promotions as part of an existing or new event.
Merchants should be looking to incentivize consumers to sign up for subscriptions and loyalty programs as spending picks up to drive revenue in the future. If consumers are part of a loyalty program, they may be more likely to shop with a merchant going forward because they'll have access to perks like discounts. And if they're paying for a subscription, merchants can consistently bring in revenue from customers.
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